Market out look dated 27TH April 2018

Market out Look : Market are continue in positive bias but trading range for the last 18 trading sessions, However, any bad news market taking positive and waiting for up move. As yesterday FO Expiry and a lot of short position in system resulted sharp short covering and Nifty and Bank Nifty closed with a positive bias.

Nifty : Market ready for big break out will added easily another 100 points. Today support 10550-10660, crossover and stay above 10640 time to buy for target 10705-10740 in a few minutes. Trading range 140 points 10500 to 10640.

Intra Day Scaneario : Trend bullish, support 10550

Weekly Scaneario : Best : 10705 – 10740 Worst case : 10500.

3month Scaneario : Best Case – 10600-11000 Worst case 9145.

Bank Nifty Future : After sharp down side some support seen from lower level due to short covering and fresh long. Yesterday it was made a low 24750 which is a major support area as mentioned in this column. Now today sustained above 25100- up side open towards 25250-25400. Concentrate Pvt Sector Banks and sell side, PSU Banks like, PNB, Bank of Baroda, Can Bank and SBI.